Private equity firms TPG Capital, Bain Capital and Baring Private Equity Asia are in preliminary discussions with public sector lender Canara Bank to buy its 30% stake in housing finance company Can Fin Homes Ltd, The Economic Times reported citing many persons aware of the development.

New York-based investment bank Jefferies LLC was given the mandate to find a buyer, the report added.

“The stake sale will happen with one buyer or multiple buyers and may happen in tranches,” the report cited one person as saying.

Canara bank had then said that the deal was part of its plan to sell non-core assets.

Indian pharma firms eye Sanofi's European generics biz

Indian drugmakers Aurobindo, Zydus Cadila, Torrent Pharma and Intas are in initial talks to buy the European generics business of pharmaceuticals major Sanofi, The Economic Times reported citing multiple people aware of the development.

The valuation of the business could be around $1.5-2 billion, the report added.

Global PE firms and a Chinese drugmaker are also in the fray for a pie of Sanofi's European business. Some of these global PE firms have tied up with the homegrown pharmaceutical companies, the ET report stated.

While Apax Partner has backed Zydus Cadilla, Temasek and Chris capital have partnered with Intas, the report said.

Sanofi has hired investment banks JP Morgan, Morgan Stanley and Rothschild to run the sale process. The non-binding bids have to be submitted by the third week of January, says the report.

Sanofi confirmed to ET that it is planning to exit the European Union generics business and expects to complete it by end of 2018.

Pepe Jeans to sell India biz

Apparel maker Pepe Jeans is looking to sell its India business and is seeking a valuation of Rs 2,000 crore, The Economic Times reported citing people aware of the development. The investors in the global holding company are looking to monetise their investment through this sale, the report said.

The investment banking arm of the Kotak Group was given the mandate to find a buyer, the report added.

However, Kavindra Mishra, managing director of Pepe Jeans India, denied that company is under block in an emailed response to ET.

Pepe Jeans India has revenues of about Rs 500 crore and operating profits of Rs 100 crore, according to the report.